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Dec 27, 2012
12/12
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cliff or if we do go off the fiscal cliff it will be a small package of some tax increases, some spending cuts, but it's not going to put the economy into a recession. so what i've been telling clients is let's just hold the line right here. let's not sell precipitously. let's wait until we see the outcome. but right now i think there's a real good chance that the outcome could be positive or will muddle our way through this significant problem. >> ifill: let me ask you a question which politicians kept bringing up during this last election which is the that the uncertainty is what makes people nervous in the business world. is this the kind of uncertainty they were talking about? >> it absolutely is. you mentioned before the retail sales numbers for this christmas season and the retail sales numbers for this christmas season were very poor, very soft. this is both individuals and individuals affecting companies making decisions and it's really largely driven by their significant uncertainty about what's going to be their tax rate in 2013. they're really postponing any spending and it cle
cliff or if we do go off the fiscal cliff it will be a small package of some tax increases, some spending cuts, but it's not going to put the economy into a recession. so what i've been telling clients is let's just hold the line right here. let's not sell precipitously. let's wait until we see the outcome. but right now i think there's a real good chance that the outcome could be positive or will muddle our way through this significant problem. >> ifill: let me ask you a question which...
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Dec 28, 2012
12/12
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if we go over the fiscal cliff $700 billion of spending will be taken out of our economy. we have to change the scale of that fiscal cliff to a slight gradual bunny slope. so that our economy won't be zero next year. that is in a recession which will occur if we take $700 billion out of it because of the tax increases and spending cuts. about 100 to $200 billion is all that we can afford to take out of it. then our gross domestic product will still grow at about 2.5% to 3%. that's the first step. then speaker boehner and the president come together. they are within $500 billion of step two. $3 trillion debt reduction. all he is there to do is come back and -- $2.5 trillion -- >> next ten years. >> that's where we need them to generate the political will that's right for america's economy. >> i want to ask you about political will. we look at he is mums and it seems there is a lot of republicans that are weary of the -- agreeing to any deal because of a threat of a primary. a lot of the folks in the house chop from conservative districts. barack obama is a bad word. they do
if we go over the fiscal cliff $700 billion of spending will be taken out of our economy. we have to change the scale of that fiscal cliff to a slight gradual bunny slope. so that our economy won't be zero next year. that is in a recession which will occur if we take $700 billion out of it because of the tax increases and spending cuts. about 100 to $200 billion is all that we can afford to take out of it. then our gross domestic product will still grow at about 2.5% to 3%. that's the first...
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Nov 7, 2012
11/12
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FOXNEWSW
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going over the full fiscal cliff is recipe for recession. >> not the way mr. obama wants to begin the second term. the fiscal cliff and simultaneous cancer jens of tax increases an spending cuts will wreak havoc with the economy. spending cuts for instance take $2.10 trillion in ten years. >> these are big cuts, 10-14% in programs quarter of the way through the fiscal year. that is bad policy and dangerous. >> the biggest stumbling block is tax increases, everyone wants to extend the bush tax cuts for those making less than $250,000 a year. the president, however, wants to raise taxes on those making more. and add other taxes to boot. some analysts argue that would crush small businesses, which create two-third of all jobs. >> the tax increases that president obama has fought for, would actually increase taxes on small businesses by $50 billion a year. in 2010, president obama extened all the tax cuts. now the economy is growing at 2%. mr. obama is forging ahead and senator reid argues he has a mandate to do so. >> the president campaigned around the country.
going over the full fiscal cliff is recipe for recession. >> not the way mr. obama wants to begin the second term. the fiscal cliff and simultaneous cancer jens of tax increases an spending cuts will wreak havoc with the economy. spending cuts for instance take $2.10 trillion in ten years. >> these are big cuts, 10-14% in programs quarter of the way through the fiscal year. that is bad policy and dangerous. >> the biggest stumbling block is tax increases, everyone wants to...
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Nov 7, 2012
11/12
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CNBC
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the fiscal cliff is facing us. we need to solve it. it's the most important thing that government can do. you were talking earlier about creating jobs and what candidate is best for creating jobs. remember that businesses and not government create jobs and what government does is create circumstances under which business can create jobs. the most important set of problems facing job creators today is uncertainty coming from the fiscal cliff. my personal view as a supporter of obama is he's more likely to be the person able to deal with that because he's put the entitlement reforms on the table that are necessary to get that done. we need entitlement reform and tax increases. mitt romney, who i've known for a long period of time and have huge personal respect and affection for has a set of tax policies out there that are unrealistic. so that's one of the reasons i support obama. i do think whoever becomes the next president is going to have to deal with that as the very first thing before dealing with any other issues that face us. >> i
the fiscal cliff is facing us. we need to solve it. it's the most important thing that government can do. you were talking earlier about creating jobs and what candidate is best for creating jobs. remember that businesses and not government create jobs and what government does is create circumstances under which business can create jobs. the most important set of problems facing job creators today is uncertainty coming from the fiscal cliff. my personal view as a supporter of obama is he's more...
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Dec 27, 2012
12/12
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WMAR
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over the fiscal cliff. charlie's at the live desk right now this morning with more on the battle ahead for both sides of the debate. charlie the 11th hour. >> the future, the immediate future of our taxes hang in the balance. the president and house republicans are now set to square off once more to cut a deal. with just five days remaining before the tax hikes and departmental cuts take effect. before christmas house republicans failed to pass the alternate plan instead placing the responsibility on president obama and senate democrats' shoulder. according to the "washington post" gop leaders vowed to go into session to vote on anything the democratic controlled senate approved. however speaker john boehner demanded the senate first take a look at the bill the house moved through a month ago that preserved the expiring tax cuts for the wealthy as well as the middle class. that's not likely given the president's position on raising taxes for those making more than $250,000 a year. >> i want us to not go ove
over the fiscal cliff. charlie's at the live desk right now this morning with more on the battle ahead for both sides of the debate. charlie the 11th hour. >> the future, the immediate future of our taxes hang in the balance. the president and house republicans are now set to square off once more to cut a deal. with just five days remaining before the tax hikes and departmental cuts take effect. before christmas house republicans failed to pass the alternate plan instead placing the...
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Oct 28, 2012
10/12
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FBC
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cliff that you mentioned his a significant impediment to the economy. if we see very large increases in taxes, and by the way, never liked the work fiscal cliff because it tends to but still lower spending with higher taxes. most of the problem is on the tax side, not the spending side. if we don't get that fixed we're going to have the very significant drag on this economy , sufficiently significant that we could go into a recession. gerri: the national association of manufacturers out with a study showing that if everything does stay in place we will get unemployment at 12%, lose 6 million jobs. the report even says that the threat of the fiscal cliff cut half a percent of the gdp this year. the impact is already there. it will mean fewer jobs, less robust economy. the you think they ar talking up the story are too pessimistic , do you think they're right on target? >> well, i would not doubt for their numbers, but i certainly agree wi the direction that ey're talking about. there is no question that it is not just uncertainty. it is the concern that
cliff that you mentioned his a significant impediment to the economy. if we see very large increases in taxes, and by the way, never liked the work fiscal cliff because it tends to but still lower spending with higher taxes. most of the problem is on the tax side, not the spending side. if we don't get that fixed we're going to have the very significant drag on this economy , sufficiently significant that we could go into a recession. gerri: the national association of manufacturers out with a...
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Dec 4, 2012
12/12
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CNBC
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that there really i don't believe is any effect from the supposed anxiety about the fiscal cliff. i think people know there will be some type of resolution. we didn't know the details or when. but companies are still investing the way they would normally do and they're not stopping because of -- >> that doesn't make us quake a bit about the jobs report later this will week and what that does for investors' nerves? >> we know it will be worse than it would have been because of super storm sandy. so you didn't know how much it was to do with that and how much was the economy. so it will be a bit of a wash in terms of reading the tea leaves for the u.s. >> so the growth picture for the u.s., we sort of 1%, 2%, depending on what happens with the fiscal cliff. what do you think, 2.5%? >> yeah, i think we should be 2.5% to 3% by the end of next year. >> which might be a slightly better outturn. china seems to be back on track. is there anything in europe -- what's the tail risk at the moment? >> i think there's two things that could still go wrong in europe. one, there's always politica
that there really i don't believe is any effect from the supposed anxiety about the fiscal cliff. i think people know there will be some type of resolution. we didn't know the details or when. but companies are still investing the way they would normally do and they're not stopping because of -- >> that doesn't make us quake a bit about the jobs report later this will week and what that does for investors' nerves? >> we know it will be worse than it would have been because of super...
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Dec 8, 2012
12/12
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. >> reports indicate the president adopted a strategy to slow walk our economy to the edge othe fiscal cliff. -- edge of the fiscal cliff. >> vice president joe biden said a deal could be done in 15 minutes. he made the comments during a lunch with people the white house described as middle class. >> couple hundred bay area senior citizens made noise today about the fiscal cliff. [ music playing ] >> they held a flash mob in front of the federal building in downtown san francisco. they are rallying for social security, medicare and medicare. they support the president's plan. >>> another winner. what we know about the latest person to claim a huge power ball jackpot. >> the weather is looking nice. the warmest day of the weekend and when shower chances >>> parents of two students are complaining the school isn't doing enough to protect the children from bullying at cooper elementary school. one parent said her daughter is being tormented. her daughter wrote a suicide note. the mother accused the school of not addressing the problem. >> stop punishing the victim. it is a struggle to get
. >> reports indicate the president adopted a strategy to slow walk our economy to the edge othe fiscal cliff. -- edge of the fiscal cliff. >> vice president joe biden said a deal could be done in 15 minutes. he made the comments during a lunch with people the white house described as middle class. >> couple hundred bay area senior citizens made noise today about the fiscal cliff. [ music playing ] >> they held a flash mob in front of the federal building in downtown san...
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Dec 13, 2012
12/12
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CSPAN2
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>> yes. >> well, clearly the fiscal cliff is having effects on the economy. even though we have not reached the point of the fiscal cliff potentially kicking in. it is already affecting business investment and hiring decisions. we saw what happened to everything in regards to the fiscal cliff, and really this is a major risk factor and a major source of uncertainty about the economy going forward. i would suspect that the participants don't make this explicit, but what they are assuming in their projections is that the fiscal cliff gets resolved in some intermediate way, whereby there is still some fiscal drag, but not as much as i buy the fiscal cliff. you're absolutely right that there's a lot of uncertainty right now. it is the fiscal cliff situation, and it turns out to be resolved in a way that is different from our expectations. i'm sure that you will see changes in the forecast been a [inaudible question] >> thank you, mr. chairman. in regards ramping up additional easing, you will now be adding more, also, you know, we talked about maintaining until w
>> yes. >> well, clearly the fiscal cliff is having effects on the economy. even though we have not reached the point of the fiscal cliff potentially kicking in. it is already affecting business investment and hiring decisions. we saw what happened to everything in regards to the fiscal cliff, and really this is a major risk factor and a major source of uncertainty about the economy going forward. i would suspect that the participants don't make this explicit, but what they are...
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Dec 8, 2012
12/12
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KTVU
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. >> reports indicate the president adopted a strategy to slow walk our economy to the edge othe fiscal cliff. -- edge of the fiscal cliff. >> vice president joe biden said a deal could be done in 15 minutes. he made the comments during a lunch with people the white house described as middle class. >> couple hundred bay area senior citizens made noise today about the fiscal cliff. [ music playing ] >> they held a flash mob in front of the federal building in downtown san francisco. they are rallying for social security, medicare and medicare. they support the president's plan. >>> another winner. what we know about the latest person to claim a huge power ball jackpot. >> the weather is looking nice. the warmest day of the weekend and when shower chances return in the five-day forecast. >> parents complain their daughters are being bullied. we will tell you what is happening at a middle school. [ laughter ] [ girl ] wow, you guys have it easy. i wish i had u-verse when i was your age. in my day, we didn't have these fancy wireless receivers. blah blah blah. if i had a sleepover, i couldn
. >> reports indicate the president adopted a strategy to slow walk our economy to the edge othe fiscal cliff. -- edge of the fiscal cliff. >> vice president joe biden said a deal could be done in 15 minutes. he made the comments during a lunch with people the white house described as middle class. >> couple hundred bay area senior citizens made noise today about the fiscal cliff. [ music playing ] >> they held a flash mob in front of the federal building in downtown san...
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Nov 6, 2012
11/12
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CNBC
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the fiscal cliff. if we go over the fiscal cliff, if there is not an agreement before january 1 what does that mean for the economy? >> i hope there is an agreement because it would be pretty disastrous. the congressional budget a office told us it would take 4% to 5% of gdp out of the economy. in other words we would be in a recession for sure and a deep one unless we come bouncing back t quickly. in other words, congress reverses itself after letting us go over the cliff. >> handicap what you think happened in either scenario if president obama is reelected or if governor romney is elected. >> i think in both cases there is a better than even chance we will go over the cliff. i think if president romney gets elected he will say i want to keep the tax rates as they are today. but, of course, he won't be able to do that until he gets noggierated. so president obama i would say i am not going to give that gift to you and therefore we go over the cliff. >> what is your expectation that congress is forced
the fiscal cliff. if we go over the fiscal cliff, if there is not an agreement before january 1 what does that mean for the economy? >> i hope there is an agreement because it would be pretty disastrous. the congressional budget a office told us it would take 4% to 5% of gdp out of the economy. in other words we would be in a recession for sure and a deep one unless we come bouncing back t quickly. in other words, congress reverses itself after letting us go over the cliff. >>...
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Oct 28, 2012
10/12
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CNNW
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the fiscal cliff looms ominously. but compared with the rest of the industrialized world and with the arc of other post-bubble recoveries, the united states is ready for a robust revival. this is partly because of the dynamism of the u.s. economy but also because of the timely and intelligent actions of the fed and the obama administration. the next president will reap the rewards of work already done. so it would be the ultimate irony if having strongly criticized every measure that contributed to these positive trends mitt romney ends up presiding over what she would surely call the romney recovery. for more on this, go to cnn/fareed for a link to my "washington post" column. and let's get started. ♪ >>> let's get straight to our terrific panel to talk about the economy and obviously a little politics, as well. joe klein is "time's" political economist. amity shlaes is director for the 4% project at the george w. bush institute and author of the forthcoming "coolidge: a biography of america's 30th president." ken
the fiscal cliff looms ominously. but compared with the rest of the industrialized world and with the arc of other post-bubble recoveries, the united states is ready for a robust revival. this is partly because of the dynamism of the u.s. economy but also because of the timely and intelligent actions of the fed and the obama administration. the next president will reap the rewards of work already done. so it would be the ultimate irony if having strongly criticized every measure that...
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Nov 22, 2012
11/12
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CNBC
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and would help prevent us from speeding over that fiscal cliff, which would be a disaster for our economy. >> all right, well, that's it. i think you're rate about that. maine senator, susan collins, can't thank you enough. have a very happy thanksgiving. >> thank you, larry. >> all right. stock markets of course are still obsessed with the fiscal cliff. market did go up today by 48 points on the dow. you know, it is as though nothing else exists. so we're about to talk to a market pro who's going to help you with therapy on this market obsession. speaking of therapy, don't forget, folks, free market capitalism is the best bet to prosperity. this whole fiscal cliff issue is tied up with economic freedom and prosperity. i'm larry kudlow, we'll be right back. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our t
and would help prevent us from speeding over that fiscal cliff, which would be a disaster for our economy. >> all right, well, that's it. i think you're rate about that. maine senator, susan collins, can't thank you enough. have a very happy thanksgiving. >> thank you, larry. >> all right. stock markets of course are still obsessed with the fiscal cliff. market did go up today by 48 points on the dow. you know, it is as though nothing else exists. so we're about to talk to a...
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Dec 17, 2012
12/12
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WUSA
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. >> but up next, how would you solve the fiscal cliff crisis? we hit the street to find out. >>> the clock is ticking for lawmakers to reach an agreement before the economy tumbles over the fiscal cliff. and with so much at stake, many of us are just scratching our heads wondering why the politicians haven't come up with a plan yet. >> that's right. how would you solve this problem? we sent our bruce leshan, one of our veteran reporters out to let people sound off literally. they got on a soap box. >> reporter: how you doing, man? i'm from channel 9 to try to get people to tell politicians what they think about the fiscal cliff. fiscal cliff. the fiscal cliff soap box. come on through. how you doing? all right, people, step up. the fiscal cliff soap box. we'll give you this beautiful 9news travel mug if you talk to us. here we go. step right up. do you worry about your taxes going ?up. >> i'm not wealthy so no. >> reporter: if we go off the cliff, taxes will go up on everybody. >> everybody? >> reporter: everybody. tell the politicians what you
. >> but up next, how would you solve the fiscal cliff crisis? we hit the street to find out. >>> the clock is ticking for lawmakers to reach an agreement before the economy tumbles over the fiscal cliff. and with so much at stake, many of us are just scratching our heads wondering why the politicians haven't come up with a plan yet. >> that's right. how would you solve this problem? we sent our bruce leshan, one of our veteran reporters out to let people sound off...
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Dec 12, 2012
12/12
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cliff. >>> and jpmorgan ceo, jamie dimon on the effect of the economy and fiscal cliff. stick around! >>> welcome back to "squawk b " box." the futures have been around 50, now 52 points. a look at the percentage move. not a lot. at least it is up and will be up for six straight days. you're very ingagnostic about a these things, overall we'd like prosperity to increase globally? >> absolutely. is that ever in doubt? with some places it is. >> in europe, does prosperity seem to be having a good century in europe? >> no. >> good decade? >> no. with the tail end of the feds 2-day interest meeting, feds are suspecting out-right asset purchases to replace "operation twist." has the fed run out of firepower. steve joins us on what to expect when we hear from them later on today. hey, steve. >> hi, michelle. the fed doesn't think it's run out of firepower although the market may have a different point of view. the big debate is how the fed replaces "operation twist." for background it's short term securities and buys long term securities in an effort to bring down long term in
cliff. >>> and jpmorgan ceo, jamie dimon on the effect of the economy and fiscal cliff. stick around! >>> welcome back to "squawk b " box." the futures have been around 50, now 52 points. a look at the percentage move. not a lot. at least it is up and will be up for six straight days. you're very ingagnostic about a these things, overall we'd like prosperity to increase globally? >> absolutely. is that ever in doubt? with some places it is. >> in...
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the sell-off was triggered by worries over the looming fiscal cliff here at home. there are also new concerns about europe's struggling economy. >>> tim kaine said it's time for folks on both sides of the aisle to fix the economy. when he takes office, he said he'll be ready to take up america's fiscal issues including the issue of jobs. he said congress needs to act before the end of the year to avoid deep sequestration cuts. >>> the new casino in prince george's county won't open until 2016. officials still have to choose a contractor for the development. last night, voters approved question 7, which will also bring table games to maryland's casinos. it was a $90 million advertising blitz, making it one of the most expensive questions in the state's history. >>> now, let's get the latest on the question about the weather, and exactly what this latest coastal storm system is going to mean for the washington area. veronica? >> yeah, the coastal storm, well, it's off the coast, but it's been slow to do anything here. you look at the rather da, and you would think it
the sell-off was triggered by worries over the looming fiscal cliff here at home. there are also new concerns about europe's struggling economy. >>> tim kaine said it's time for folks on both sides of the aisle to fix the economy. when he takes office, he said he'll be ready to take up america's fiscal issues including the issue of jobs. he said congress needs to act before the end of the year to avoid deep sequestration cuts. >>> the new casino in prince george's county won't...
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Dec 28, 2012
12/12
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KRON
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economy will grow over the " fiscal cliff. " >> what is happening right now high pressure is staying in place and it is falling down and stall in the system. it is currently 34 degrees in santa rosa. it is not a bad start for san francisco they're waking up to 43 degrees. as we take a look at the visibility map there is a dense fog forming. it is not too bad for napa and out in concord. reports of visibility down to this 3 tens of a mile. this is only the dangerous spot here. you may want to allow yourself a little bit of extra time. >> we are tracking the storm for you. we will not see too much moisture associated with this. we will see cloud cover that will start to run but. all the white on the screeby 3:00 p.m. most of the moisture will be sitting off shore. the shower chances will increase later on tonight into the morning. by 9:00 p.m. we may have some light rain for the shoreline. as we continue to advance the clock showers will pass through for overnight hours. >> as we take a look at the afternoon highs it will be a another cold one. it will be 49 degrees for fairfield and 5
economy will grow over the " fiscal cliff. " >> what is happening right now high pressure is staying in place and it is falling down and stall in the system. it is currently 34 degrees in santa rosa. it is not a bad start for san francisco they're waking up to 43 degrees. as we take a look at the visibility map there is a dense fog forming. it is not too bad for napa and out in concord. reports of visibility down to this 3 tens of a mile. this is only the dangerous spot here....
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Oct 26, 2012
10/12
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FBC
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falls off that fiscal cliff. the organization warns that the looming spending cuts and tax hikes could remove $500 billion from the economy. >>> the white version of apple's ipad membership any selling out within 20 minutes of being made available for preorder. the device is scheduled to hit stores a week from today. >>> this breaks my heart, it does. nhl canceling the entire schedule of november because there is no agreement tweem the players and owners. this brings the end to roughly a quarter of season. this is today's speed read [buzzer] david: you did it. liz: what are they thinking? what are they thinking? david: we'll ask mr. bettman and find out. liz: we love gary bettman to come in. during the first presidential debate mitt romney pointed out problems he had with dodd-frank regulation. >> one is it designates a number of banks too big to fail and they're effectively guaranteed by the government. this is the biggest kiss given to new york banks i have ever seen. liz: we have somebody who agrees with romne
falls off that fiscal cliff. the organization warns that the looming spending cuts and tax hikes could remove $500 billion from the economy. >>> the white version of apple's ipad membership any selling out within 20 minutes of being made available for preorder. the device is scheduled to hit stores a week from today. >>> this breaks my heart, it does. nhl canceling the entire schedule of november because there is no agreement tweem the players and owners. this brings the end...
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Dec 27, 2012
12/12
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FOXNEWSW
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. >> eric: thousands of jobs and billions of dollars are at stake but this is no fiscal cliff. this is the looming port strike threatening to shut ports from boston, miami and beyond. florida governor rick scott telling the media a strike will be devastating to his state's economy. governor's right but it's an entire nation about to get slammed. brent is the president of miller and long construction. we import -- we pointed out somewhere around 65% of international trade hits the ports. we import cars, we import produce, we import oil and gas. explain how this will affect the prices for people watching right now of everything. >> well, it will be very significant in a lot of ways. we're talking about eleven ports, basically from boston pretty much all the way around to houston. the reason governor scott is concerned is there are four ports in florida that will be affected. this is containerized shipping. electronic goods, food stuff and things like that. it could be massive impact, especially in this -- we had retailers getting trouble getting back on track. it will affect ever
. >> eric: thousands of jobs and billions of dollars are at stake but this is no fiscal cliff. this is the looming port strike threatening to shut ports from boston, miami and beyond. florida governor rick scott telling the media a strike will be devastating to his state's economy. governor's right but it's an entire nation about to get slammed. brent is the president of miller and long construction. we import -- we pointed out somewhere around 65% of international trade hits the ports....
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Nov 7, 2012
11/12
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cliff. you have bankers and other corporate ceos who are saying if you don't deal with the fmisca cliff, we're in another recession. we're not going to grow as an economy. this is his moment to be flanked by with business leaders in the rose garden. >> jamie dimon all but simpson-bowles. >> and action on 0 this. this can be a new opportunity. >> dav gregory, youet the first. >> i'll shove it right bk at you and make sure you get home, my friend. >> get some sleep. >>> it was a historic night for women candidates. a record numb of women in the next u.s. senate. still an amazingly, 0actually, lack of parity in the senate more women vote than men but, still, a, historic first in th state of new hampshire. the tire delegation plus the governor t today's trivia question. since 1900 how many democratic presidential nominees have won virginia in a general election twice? tweet m tweet m first answers from us.9 i was in the ambulance at 33 years old, i was having a heart attack. now i'm on a bay
cliff. you have bankers and other corporate ceos who are saying if you don't deal with the fmisca cliff, we're in another recession. we're not going to grow as an economy. this is his moment to be flanked by with business leaders in the rose garden. >> jamie dimon all but simpson-bowles. >> and action on 0 this. this can be a new opportunity. >> dav gregory, youet the first. >> i'll shove it right bk at you and make sure you get home, my friend. >> get some...
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Nov 7, 2012
11/12
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CNNW
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but the election is still in focus here on wall street, all eyes focusing on the fiscal cliff. congress has 55 days to come to a deal on tax increases and federal spending cuts. ratings agency also sent the first warning shot, saying they'll downgrade the u.s. credit rating if we go off that fiscal cliff. analysts are saying president obama, you don't have time to celebrate. congress, you, president obama have to deal with this fiscal cliff in the coming weeks. if we do fall off that cliff, the country would go back into a recession, cause unemployment rate to jump. one analyst telling me this morning, soledad, if there's no resolution on this fiscal cliff, stocks will plummet and the economy will drowned in quicksand. >> that's just doom and gloom. alison kosik for us this morning. thank you for that update. >>> we want to take you no you to miami, florida. still a state in yellow. we have not yet projected florida. ashleigh banfield is there. you were dealing with long lines yesterday. today there's a hold up. what's the hold up, ashleigh? >> well, soledad, it wouldn't be flo
but the election is still in focus here on wall street, all eyes focusing on the fiscal cliff. congress has 55 days to come to a deal on tax increases and federal spending cuts. ratings agency also sent the first warning shot, saying they'll downgrade the u.s. credit rating if we go off that fiscal cliff. analysts are saying president obama, you don't have time to celebrate. congress, you, president obama have to deal with this fiscal cliff in the coming weeks. if we do fall off that cliff, the...
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Dec 29, 2012
12/12
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CNNW
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all of it is at stake if the country goes over the fiscal cliff. it's a cliff that lawmakers built. they set the tuesday deadline, they knew it was coming for more than a year. but even now, they have done little to agree to a package before that time. keeping them honest, the people in this building have known what's coming on tuesday, yet they're only returning to this building to get back to work just now. senators came back yesterday. house members, well, they woet be back until sunday. this afternoon, house and senate leaders met with president obama at the white house. they talked for about an hour. afterwards, president obama said he was modestly optimistic. bypassing house speaker john boehner who had trouble getting his fellow republicans to agree to anything, the president called on senate majority and minority leaders harry reid and mitch mcconnell to work out a deal and then present it to a house. he also laid out a scaled down mini deal if they can't manage it. >> if we don't see an agreement between the two leaders in the senate, i expect a bill to go on the floor, and
all of it is at stake if the country goes over the fiscal cliff. it's a cliff that lawmakers built. they set the tuesday deadline, they knew it was coming for more than a year. but even now, they have done little to agree to a package before that time. keeping them honest, the people in this building have known what's coming on tuesday, yet they're only returning to this building to get back to work just now. senators came back yesterday. house members, well, they woet be back until sunday....
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Nov 28, 2012
11/12
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if we go off the fiscal cliff, a key point they say consumer spending would take a $200 billion hit next year. is there a growing sense, though, dana, that going off the cliff would be preferable to caving on issues that are important frankly to both sides? >> certainly the extremes on both sides are saying that it may be preferable. it is entirely possible that that's what will happen. sort of like those discussions of can we survive, you know, the nuclear winter. it is -- the good news is that a deal is fairly obvious what needs to be put into it. it's just a question of when the political will comes together. it can be done very quickly if people are willing to, but it does seem as if they are now preparing for the blame game that follows with the assumption that they're going off the fiscal cliff with whatever economic calamity comes with it. >> i want to bring in congressman peter defazio, a democrat from oregon. good morning. >> good morning. >> you're one of the folks who have said, correct me if i'm wrong, that republicans won't accept tax hikes for wealthy and we might as w
if we go off the fiscal cliff, a key point they say consumer spending would take a $200 billion hit next year. is there a growing sense, though, dana, that going off the cliff would be preferable to caving on issues that are important frankly to both sides? >> certainly the extremes on both sides are saying that it may be preferable. it is entirely possible that that's what will happen. sort of like those discussions of can we survive, you know, the nuclear winter. it is -- the good news...
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Dec 31, 2012
12/12
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if we go over the fiscal cliff, the risk to the economy is strong. there is it to families is real. it is as if politicians are playing tug of war. as soon as we get through the fiscal cliff -- the hope is we would replace the fiscal cliff with real policies that would keep us from going over it. now looks as though we're not going to be able to do anything to tackle the challenges right now. the partisan environment is getting worse and worse. that leaves us with questions about whether these guys can govern. host: front page of "the new york times." let me read a few points. "more difficult to reach a compromise." guest: that is absolutely true. i feel we're watching a game of finger-pointing and not much else. both sides are pointing fingers and shouting it is the other guy's fault. what if any other business environment worked this way instead of solving the problems and working together? the toxic environment calls into question when we of challenges or other important issues -- can the american political system step up and deal with sit? the answer is not very well. we feel sa
if we go over the fiscal cliff, the risk to the economy is strong. there is it to families is real. it is as if politicians are playing tug of war. as soon as we get through the fiscal cliff -- the hope is we would replace the fiscal cliff with real policies that would keep us from going over it. now looks as though we're not going to be able to do anything to tackle the challenges right now. the partisan environment is getting worse and worse. that leaves us with questions about whether these...
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Dec 1, 2012
12/12
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maybe our economy can come back. host: we want to let our folks know about the fiscal cliff page. if you want to find out more about the issue of the fiscal cliffs 02 c- span.org/fiscalcliff. you can find out all the information you ever wanted to know about the fiscal cliff. this is the lead editorial in the financial times. back to the phones. billy is on the line for independents calling from florida. caller: i think the fiscal cliff is inevitable. they need to reform everything. keep in mind, every missile fired in libya cost taxpayers $9 million. i lived during the cuban crisis, castro --they need to let most countries solve their own problems. thank you for letting me call. host: we want to remind our viewers and listeners that today is world aids day. we have this story from "the huffington post." they are also putting up on the white house today red ribbon. you can see more pictures of that on the internet. let's take our last call from harrison on the line for democrats. your thoughts about the fiscal cliff and talks being at a stalemate. caller: i am a democrat, and i di
maybe our economy can come back. host: we want to let our folks know about the fiscal cliff page. if you want to find out more about the issue of the fiscal cliffs 02 c- span.org/fiscalcliff. you can find out all the information you ever wanted to know about the fiscal cliff. this is the lead editorial in the financial times. back to the phones. billy is on the line for independents calling from florida. caller: i think the fiscal cliff is inevitable. they need to reform everything. keep in...
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Dec 26, 2012
12/12
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economy from going over the fiscal cliff as a group of democrats push for the extension of most of the bush-era tax cuts, cuts they say staunchly -- they opposed years ago. joining us now to talk about it, tony -- [inaudible] a republican political analyst and consultant and a national political correspondent for talk radio news service. michael is a democratic strategist, and he joins us as well. good to see you both. tony, look, the word we're getting is that harry reid is going to pass an extension of the bush tax cuts for anybody under 250,000, extend unemployment benefits for two million folks. um, now, if that happens, it goes to the house, and the house will probably have to put it up. aren't republicans, your party, going to wish that they had passed plan b? >> absolutely, gregg. look, plan b really should have been our plan a, number one. number two, plan b was really the idea of chuck schumer and nancy pelosi as recently as in this summer. to set the threshold on incomes to a million dollars versus 250,000, allow those tax rates for a million and above go up, the president ta
economy from going over the fiscal cliff as a group of democrats push for the extension of most of the bush-era tax cuts, cuts they say staunchly -- they opposed years ago. joining us now to talk about it, tony -- [inaudible] a republican political analyst and consultant and a national political correspondent for talk radio news service. michael is a democratic strategist, and he joins us as well. good to see you both. tony, look, the word we're getting is that harry reid is going to pass an...
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Dec 29, 2012
12/12
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CNNW
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the fiscal cliff, still looming. spending cuts and tax hikes that could shove our economy into recession. and a deadline lawmakers ignored until the very last possible minute. live pictures now of the capitol. looks beautiful. man, but there's a lot of wrangling going on there. lawmakers are back up -- had their backs up against the wall right now. and as they try to find a plan that can pass congress. let's hope they do. cnn's chief white house correspondent is jessica yellin. she is following the negotiations, working very hard on this saturday. so jess, democrats and republicans are supposedly working on a plan, even as we speak. what do we know about it? >> reporter: well, we know, don, that it's the senate leaders that are hashing this out. and what they're looking to negotiate is a deal that would extend current low tax rates for middle income americans. we don't know the exact threshold levels. so would it be people who make $400,000 and less, would it be $250,000 and less. but something that would extend low
the fiscal cliff, still looming. spending cuts and tax hikes that could shove our economy into recession. and a deadline lawmakers ignored until the very last possible minute. live pictures now of the capitol. looks beautiful. man, but there's a lot of wrangling going on there. lawmakers are back up -- had their backs up against the wall right now. and as they try to find a plan that can pass congress. let's hope they do. cnn's chief white house correspondent is jessica yellin. she is following...
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Dec 27, 2012
12/12
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on top of the fiscal cliff, we may go through this all over again. it's another drag on the markets and on the whole economy at exactly the wrong time. >> when you say drag, though, give us an example of what you mean. we talked about january 2nd, everybody goes back to work and markets open. are we going to see a lot of volatility. all of a sudden it crashes down at once. what happens to wall street. >> we're going to see a lot of volume activity until the issues get resolved. it's not as if the borrowing limit directly affects companies represented in the stock market, but the problem is that washington is the whole story right now and there's so much unpredictability about the economy. u.s. treasury securities are the biggest class of securities in the world. it sort of affects everything else about the markets, the financial markets, interest rates. and if we don't quite know what's going to happen in that bedrock market, which provides a lot of liquidity, it affects everything else. there's also a psychological component, which standard & poor's
on top of the fiscal cliff, we may go through this all over again. it's another drag on the markets and on the whole economy at exactly the wrong time. >> when you say drag, though, give us an example of what you mean. we talked about january 2nd, everybody goes back to work and markets open. are we going to see a lot of volatility. all of a sudden it crashes down at once. what happens to wall street. >> we're going to see a lot of volume activity until the issues get resolved. it's...
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they've got to figure out the fiscal cliff. it's massive, massive spending cuts, massive tax hikes that slam on the economy at the same time, would mean a lot of people out of work, factories close. they have to fix this and they're barely moving toward it. >> ali, fiscal cliff 101. a couple people tweeted me saying you keep talking about the fiscal cliff. >> it's a whole bunch of things that are not great that will going to happen at the same time. tax cuts are going to expire. the bush era tax cuts. certain benefits and credits are going to go away. and they're going to be the sequestration, which as you know is a stupid name for a stupid thing but it was the deal they made for the debt limit increase that said if 12 of you can't make a deal, then we're going to cut 10% across the board in everything. >> the debt ceiling and then they attached a suicide note and that's basically what it is. >> military spending and -- >> all cutting across the board. which is not what you do in an economy like this. spending cuts are necessar
they've got to figure out the fiscal cliff. it's massive, massive spending cuts, massive tax hikes that slam on the economy at the same time, would mean a lot of people out of work, factories close. they have to fix this and they're barely moving toward it. >> ali, fiscal cliff 101. a couple people tweeted me saying you keep talking about the fiscal cliff. >> it's a whole bunch of things that are not great that will going to happen at the same time. tax cuts are going to expire. the...
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Nov 8, 2012
11/12
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toward that so-called "fiscal cliff" next year. the president must also still defend his health care law, which remains unpopular and make good on his promise to jumpstart immigration reform. for a look at those realities ahead, we turn to john cowan, the president of third way, a moderate democrat think tank here in washington. and naftali bendavid who covers congress for the "wall street journal." naftali, we saw john boehner come out today and say-- sound like he was finding middle ground. we heard the president call john boehner and harry reid and sound like he was extending some sort of-- i don't know, the day after the election-- olive leaf. is that true? >> i think so. it was really striking to see the conciliatory language on both sides, particularly with speaker boehner who was very careful in the words he used. he used a teleprompter, something he doesn't usually do as though to make sure he used the right language and took no questions from reporters. early opoliticians know voters want compromise, they want concillation
toward that so-called "fiscal cliff" next year. the president must also still defend his health care law, which remains unpopular and make good on his promise to jumpstart immigration reform. for a look at those realities ahead, we turn to john cowan, the president of third way, a moderate democrat think tank here in washington. and naftali bendavid who covers congress for the "wall street journal." naftali, we saw john boehner come out today and say-- sound like he was...
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Dec 8, 2012
12/12
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to the fiscal cliff. yet, this is the same republican leadership that had the house and senate barely a full day this week. we have had the election. the president was clear in the campaign in fighting for a middle-income tax cut, a tax cut which, by the way, gives everyone a tax break, but it also asks the upper 2% to pay their fair share. and since that election four weeks ago, we have had time, the president has given republicans flexibility to come up with a credible, specific plans. what they offered in return was an empty letter, lacking in specifics. it was a manifestation of a lack in the republican caucus about the tax cut and no specifics in their planned, and not even senator mcconnell endorsed the plan. we can make a difference right now, by putting the middle- income tax issue up for a vote. democrats are unified on it. we have been discharged position to bring it to the floor. the only obstacle standing in the wake of middle-income tax relief is the republicans'' unwillingness for the top 2%
to the fiscal cliff. yet, this is the same republican leadership that had the house and senate barely a full day this week. we have had the election. the president was clear in the campaign in fighting for a middle-income tax cut, a tax cut which, by the way, gives everyone a tax break, but it also asks the upper 2% to pay their fair share. and since that election four weeks ago, we have had time, the president has given republicans flexibility to come up with a credible, specific plans. what...
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Oct 25, 2012
10/12
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cliff. oh, yes, they talk about that all the time on the trail. it came up in all the debates. remember that? we have senior columnist for finance for yahoo as our guest. no one is talking about it. >>guest: not too much. one reason is, this was build, the provisions and spending cuts that anyone wants was built to be a doomsday button that neither side wants to talk and they are not talking about it. there are probably a majority of those who try to forecast this that some kind of accommodation will be worked out even if it is just deferring the hard of the decisions and it is not a matter of tumbling off the entire cliff that has been piled up there. >>shepard: at some point we have to make the decisions and to do that there has to be compromise, and there is no more compromise. one side or the other pretends it is there but there is no compromise. >>guest: there is not. but you do, actually, have as you get into the next year, we will have so many right now possible options in terms of a
cliff. oh, yes, they talk about that all the time on the trail. it came up in all the debates. remember that? we have senior columnist for finance for yahoo as our guest. no one is talking about it. >>guest: not too much. one reason is, this was build, the provisions and spending cuts that anyone wants was built to be a doomsday button that neither side wants to talk and they are not talking about it. there are probably a majority of those who try to forecast this that some kind of...
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Dec 30, 2012
12/12
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in terms of immediate damage to the economy, the fiscal cliff has the potential to do more damage more quickly. there are other aspects of obamacare that are positive in terms of continued coverage for children up to 26 and a variety of things. every time i walk into an emergency room, i get angry at the number of people i have to in that -- i have to end up paying for basic health care for. people who walk in to get treated for a cold is something we all end up paying for. to the extent we can get health care for some of these folks in a way that would prevent the expenses from happening is a positive issue to be looking at as well. guest: if you are over 65 and can get medicare, there should not be any reason your health care or what the doctor can do for you will change with the new year. even if you are concerned about the doctor payments, that will be taken care of shortly. that is the one part of the fiscal cliff i am sure will be avoided before it affects medicare patients seeing doctors. guest: i am glad you said that. that may be one thing she was talking about. part of the fi
in terms of immediate damage to the economy, the fiscal cliff has the potential to do more damage more quickly. there are other aspects of obamacare that are positive in terms of continued coverage for children up to 26 and a variety of things. every time i walk into an emergency room, i get angry at the number of people i have to in that -- i have to end up paying for basic health care for. people who walk in to get treated for a cold is something we all end up paying for. to the extent we can...
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Nov 18, 2012
11/12
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. >> schieffer: are you optimistic at all about them find something way to get past this fiscal cliff? >> um, i think they will. you know, i think on the short term they have to. because every thing will ratchet up the risk to the economy. we've already seen a 600-point crop in the dow jones. europe has returned to recession. we could trigger a double-dip recession. we could ill afford to repeat the debacle surrounding the debt ceiling crisis in 2011, that created the highest level of policy uncertainty over the last 20 years, surpassing the wares, surpassing nav 9/11, and even surpassing the financial crisis. we have no choice. i hope they have gotten the message from the last election. people want their elected officials to work together. >> schieffer: senator i want to thank you for being with us this morning. i want to wish you the best of luck, and washington wil will be less because are you no longer a member of the senate. we wish you well. >> thank you, bob, very much, for those kind words. >> schieffer: and we'll be back in one minute. they have teachers... ...with a deeper k
. >> schieffer: are you optimistic at all about them find something way to get past this fiscal cliff? >> um, i think they will. you know, i think on the short term they have to. because every thing will ratchet up the risk to the economy. we've already seen a 600-point crop in the dow jones. europe has returned to recession. we could trigger a double-dip recession. we could ill afford to repeat the debacle surrounding the debt ceiling crisis in 2011, that created the highest level...